NEW DELHI — In a major relief for homebuyers, Suraksha-led Jaypee Infratech has received revalidation of RERA registration for seven stalled housing projects in Delhi-NCR, a move expected to accelerate construction and ease access to home loans, as published by Hindustan Times.
The seven projects include Jaypee Greens Klassic—D, Jaypee Greens Kosmos—A (Phase II), Jaypee Greens Kosmos—C, Jaypee Greens Kensington Boulevard Apartments, Jaypee Greens Kasa Isles, Jaypee Greens Krescent Homes, and Pebble Court. These developments collectively account for 10,082 housing units in various configurations and sizes.
Sources indicated that homebuyers will benefit significantly from the revalidation, as many had struggled to secure home loans without a valid RERA registration. With the approval, financial institutions are now expected to facilitate loans more readily.
Construction on these projects is scheduled to proceed in phases, with the first set of units anticipated for delivery beginning in December 2025 under the approved resolution plan. Meanwhile, Jaypee Infratech is in the process of obtaining RERA revalidation for additional stalled projects, sources added.
Mumbai-based Suraksha Group took control of Jaypee Infratech in June 2023 after forming a three-member board. Sudhir V. Valia, a promoter of Suraksha Group, was appointed as a non-executive director.
The takeover followed the National Company Law Appellate Tribunal’s (NCLAT) May 24, 2023, decision to uphold Suraksha Group’s bid to acquire Jaypee Infratech. The tribunal directed Suraksha Group to pay an additional ₹1,334 crore to the Yamuna Expressway Industrial Development Authority (YEIDA) as compensation to farmers.
The Corporate Insolvency Resolution Process (CIRP) against Jaypee Infratech began in August 2017, initiated by an IDBI Bank-led consortium. On March 7, 2023, the National Company Law Tribunal (NCLT) approved Suraksha Group’s acquisition plan, which NCLAT subsequently upheld in May 2024.
Since taking control, Suraksha Group has begun infusing funds and preparing to resume construction on stalled housing projects that have impacted approximately 20,000 homebuyers. The group estimates an investment of ₹6,500-7,000 crore will be required to complete nearly 160 residential towers across various projects.
With RERA revalidation in place, homebuyers can expect a renewed momentum in construction and a clearer path to securing home loans. The move marks a significant step toward resolving the long-standing crisis for thousands of affected homebuyers.
Suraksha Group has outlined plans to restart construction work, ensuring timely delivery of housing units. The group’s financial commitment and legal approvals signal a turning point in resolving the prolonged uncertainty surrounding Jaypee Infratech’s projects. Additionally, the process of revalidating RERA registration for other stalled projects remains ongoing, indicating further relief for homebuyers in the near future.